Panama will soon be able to distribute electricity throughout Central America, making it a major player in energy distribution. With all of the new hydro electric power coming online in Chiriqui over the next few years, Panama should do very well selling power at low demand times when the multitude of air conditioners are turned down in the city.
Excerpts from Reuters
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* Will connect six nations, 37 million consumers
* Project seen reducing power shortages, cutting costs
* Panama also working on Colombia cable for 2014
CARTAGENA, Colombia, June 24 (Reuters) - Panama said on Thursday a 1,788 km (1,110 miles) electricity transmission line serving 37 million people across six Central American countries should be operational by the first quarter of next year.
The transmission line is expected to reduce power shortages, cut operating costs and attract foreign capital to the region, as well as optimizing the sharing of resources like hydropower.
One feasibility study in the 1990s estimated SIEPAC could trim charges for electricity consumers by up to 20 percent.
"We're working on these projects with Central America, now we're working with Colombia, and we'll look to see what other opportunities there may be," Urriola said.
"We want to become an energy hub for Central America."
A generation after it shed a tradition of military rule, analysts say canny fiscal management and good stewardship of the canal have made the tiny country a model of success for today's frontier markets.
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